|
In the third-quarter GDP grew 3.4 %
GDP, U.S. Economy
The U.S. economy grew at a solid pace during the July-through-September period, helped by more robust consumer spending and growth in investments.
Gross domestic product jumped in third-quarter by 3.4 % to $20,658 billions, an increase from $20,412 billions in the second-quarter on the seasonally adjusted basis, driven by higher investments, up 15.2 %, reported by the U.S. Commerce Department. Consumer spending and investments made major positive contributions to growth in the third-quarter.
Broad-based economic growth at a solid pace during the third-quarter, raises hopes that, the U.S. economy is on self-sustaining path. The first estimate of GDP will be revised twice before it becomes final. The advance report includes estimates for trade and inventory growth. U.S. Gross National Product grew by 3.0 % over the past 12 months, led by growth in consumer spending and investments. |
Government consumption expenditure and gross investment surged by 2.60 %, federal spending rose 3.50 %, including an 4.90 % rise in national defense spending. Government spending on national defense accounts for 3.98 % of total nation's output and 23.25 % of total government spending.
The government provides three estimates of economic growth per quarter, with each reflecting more complete information than the last.
In the third-quarter consumer spending grew by 3.5 %
With estimated annual rate of $12,953 billions, seasonally adjusted in the second-quarter, consumer spending accounts for 69.97 % of economic activity on the seasonally adjusted basis, helped by improving consumption in food service industry.
Spending on U.S. made Goods increased by 4.6 %, where consumption of Durable Goods grew by 3.7 %, driven by higher sales of furniture and household equipment.
Growth in nondurable goods of 3.2 %, was driven by higher clothing and shoes sales, up 2.64 %.
Sevice sector grew more than in previous quarter and faster than gross national product, spending on service increased by 4.3 %, helped by improving consumption in food service industry. Consumer spending for services accounts for 65.37% of total speding and 45.35% of total GDP.
Final sales, which exclude inventory behavior, were down to a 1.0 % gain in the third-quarter, following a 5.4 % gain in the second-quarter.
Consumers remain interested more in shedding debt than in making new purchases, economists said.
• More on U.S. Real Gross Domestic Product
|
|
Contributions
to Percent Change in Real GDP |
|
2.37% |
2.53% |
0.44% |
-0.72% |
|
|
|
|
|
|
|
|
|
|
|
Investments |
|
|
Investments grew in double digits in third-quarter by 15.20 % to $3,436 billions, on the seasonally adjusted basis, reported by the U.S. Commerce Department.
Stronger inventory buildup from July-through-September, added 2.37 percentage point to growth.
Economists expect companies to cut back on inventories in the October-through-December quarter. As a result, GDP growth is expected to slow.
|
|
|
|
Quarters seasonally adjusted
(At annual rates Q / Q, in %) |
III Quarter
2018
adv. |
II Quarter
2018
final |
I Quarter
2018
rev. |
IV Quarter
2017
adv. |
III Quarter
2017
final |
II Quarter
2017
rev. |
| Gross domestic product (GDP) |
|
3.4 % |
4.2 % |
2 % |
2.9 % |
3.2 % |
3.1 % |
|
Personal consumption expenditures |
|
3.5 % |
3.8 % |
0.9 % |
4 % |
2.2 % |
3.3 % |
| Goods |
|
4.6 % |
4 % |
0.5 % |
4.8 % |
2.3 % |
4.2 % |
| Durable goods |
|
3.7 % |
8.6 % |
-2.1 % |
13.7 % |
8.6 % |
7.6 % |
| Nondurable goods |
|
3.2 % |
3 % |
1.5 % |
2.3 % |
1.1 % |
2.3 % |
| Services
|
|
4.3 % |
5.5 % |
-0.4 % |
7.8 % |
4.5 % |
5.4 % |
| |
|
|
|
|
|
|
|
Gross private domestic investment |
|
15.2 % |
-0.5 % |
7.5 % |
4.7 % |
7.3 % |
3.9 % |
| Fixed investment |
|
1.1 % |
6.4 % |
7.6 % |
8.2 % |
2.4 % |
3.2 % |
| Nonresidential |
|
2.5 % |
8.7 % |
10.4 % |
6.8 % |
4.7 % |
6.7 % |
| Structures |
|
-3.4 % |
14.5 % |
16.2 % |
6.3 % |
-7 % |
7 % |
| Equipment &
software |
|
3.4 % |
4.6 % |
5.8 % |
11.6 % |
10.8 % |
8.8 % |
| Residential |
|
-3.6 % |
-1.3 % |
-1.1 % |
12.8 % |
-4.7 % |
-7.3 % |
| Change in private
inventories |
|
- % |
- % |
- % |
- % |
- % |
- % |
| |
|
|
|
|
|
|
|
Net exports of goods and services |
|
|
|
|
|
|
| Exports
|
|
-4.9 % |
9.3 % |
3.6 % |
7 % |
2.1 % |
3.5 % |
| Goods |
|
-8.4 % |
13.5 % |
3.4 % |
11.6 % |
1.8 % |
2.2 % |
| Services |
|
2.4 % |
1.5 % |
4 % |
-1.4 % |
2.5 % |
6.2 % |
| Imports
|
|
9.3 % |
-0.6 % |
3.2 % |
14.1 % |
-0.7 % |
1.5 % |
| Goods |
|
10.5 % |
-0.4 % |
2.6 % |
17.3 % |
-0.2 % |
1.3 % |
| Services |
|
4.3 % |
-1.4 % |
5.9 % |
1.1 % |
-2.6 % |
2.2 % |
| |
|
|
|
|
|
|
| Govt. consumption exp.
& gross investment |
|
2.6 % |
2.5 % |
1.3 % |
3 % |
0.7 % |
-0.2 % |
| Federal |
|
3.5 % |
3.7 % |
1.7 % |
3.2 % |
1.3 % |
1.9 % |
| National defense |
|
4.9 % |
5.9 % |
1.8 % |
5.5 % |
2.4 % |
4.7 % |
| Nondefense |
|
1.6 % |
0.5 % |
1.6 % |
-0.1 % |
-0.2 % |
-1.9 % |
| State & local |
|
2 % |
1.8 % |
1 % |
2.9 % |
0.2 % |
-1.5 % |
| |
|
|
|
|
|
|
| Addenda: |
|
|
|
|
|
|
| Final sales of domestic product |
|
1 % |
5.4 % |
2 % |
3.4 % |
2.4 % |
2.9 % |
| Gross domestic purchases |
|
5.3 % |
2.8 % |
2 % |
4 % |
2.7 % |
2.8 % |
| Final sales to domestic
purchasers |
|
2.9 % |
4 % |
2 % |
4.5 % |
1.9 % |
2.7 % |
| Gross national product
(GNP) |
|
3.1 % |
4 % |
1.9 % |
2.7 % |
3.7 % |
2.8 % |
| Disposable personal income |
|
2.4 % |
2.5 % |
3.6 % |
1.1 % |
0.5 % |
3.3 % |
| |
|
|
|
|
|
|
| Current-dollar measures: |
|
|
|
|
|
|
| GDP |
|
4.9 % |
7.6 % |
4.2 % |
5.3 % |
5.3 % |
4.1 % |
| Final sales of domestic product |
|
3 % |
4.3 % |
2.1 % |
4.8 % |
2.2 % |
3.3 % |
| Gross domestic purchases |
|
5.3 % |
2.8 % |
2 % |
4 % |
2.7 % |
2.8 % |
| Final sales to domestic purchasers |
|
2.9 % |
4 % |
2 % |
4.5 % |
1.9 % |
2.7 % |
| GNP |
|
3.1 % |
4 % |
1.9 % |
2.7 % |
3.7 % |
2.8 % |
| Disposable personal income |
|
2.4 % |
2.5 % |
3.6 % |
1.1 % |
0.5 % |
3.3 % |
| |
|
|
|
|
|
|
Quarters seasonally adjusted
(Quarterly Y / Y, in %) |
III Quarter
2018
adv. |
II Quarter
2018
final |
I Quarter
2018
rev. |
IV Quarter
2017
adv. |
III Quarter
2017
final |
II Quarter
2017
rev. |
| Gross domestic product (GDP) |
|
3 % |
2.9 % |
2.6 % |
2.6 % |
2.3 % |
2.2 % |
|
Personal consumption expenditures |
|
2.9 % |
2.6 % |
2.4 % |
2.8 % |
2.6 % |
2.7 % |
| Goods |
|
3.2 % |
2.6 % |
2.6 % |
3.1 % |
2.4 % |
2 % |
| Durable goods |
|
5.6 % |
6.6 % |
6.6 % |
7.3 % |
6.1 % |
6.8 % |
| Nondurable goods |
|
2.5 % |
2 % |
1.7 % |
2.1 % |
2.1 % |
2.3 % |
| Services
|
|
4 % |
3.9 % |
3.9 % |
4.5 % |
3.7 % |
3.6 % |
| |
|
|
|
|
|
|
|
Gross private domestic investment |
|
6.1 % |
4.6 % |
6.2 % |
3.6 % |
4.6 % |
3.3 % |
| Fixed investment |
|
5.4 % |
5.8 % |
5.2 % |
5.4 % |
3.8 % |
3.7 % |
| Nonresidential |
|
6.8 % |
7.1 % |
6.7 % |
6.3 % |
4.6 % |
4.4 % |
| Structures |
|
6.3 % |
5.7 % |
3.1 % |
5 % |
2.9 % |
8.1 % |
| Equipment &
software |
|
6.6 % |
8.2 % |
9.5 % |
8.9 % |
6.3 % |
3.1 % |
| Residential |
|
0.5 % |
1.3 % |
0.2 % |
2.6 % |
1.2 % |
1.5 % |
| Change in private
inventories |
|
- % |
- % |
- % |
- % |
- % |
- % |
| |
|
|
|
|
|
|
|
Net exports of goods and services |
|
|
|
|
|
|
| Exports
|
|
3.5 % |
5.7 % |
4.3 % |
5 % |
2.2 % |
3.3 % |
| Goods |
|
4.4 % |
7.3 % |
5 % |
6.5 % |
2.7 % |
4.3 % |
| Services |
|
1.8 % |
2.7 % |
3 % |
2 % |
1.3 % |
1.4 % |
| Imports
|
|
5.8 % |
4.2 % |
5 % |
4.7 % |
3.1 % |
4.1 % |
| Goods |
|
6.5 % |
4.5 % |
5.2 % |
5.5 % |
3.6 % |
4.1 % |
| Services |
|
2.6 % |
2.6 % |
3.8 % |
0.8 % |
1.2 % |
4 % |
| |
|
|
|
|
|
|
| Govt. consumption exp.
& gross investment |
|
2.2 % |
1.3 % |
0.7 % |
0.7 % |
-0.1 % |
-0.1 % |
| Federal |
|
3.5 % |
2.3 % |
1.9 % |
1 % |
0.1 % |
0.1 % |
| National defense |
|
4.2 % |
2.2 % |
2.1 % |
2.3 % |
0.1 % |
0.1 % |
| Nondefense |
|
2.4 % |
2.3 % |
1.7 % |
-0.9 % |
- % |
0.2 % |
| State & local |
|
1.5 % |
0.8 % |
- % |
0.5 % |
-0.1 % |
-0.2 % |
| |
|
|
|
|
|
|
| Addenda: |
|
|
|
|
|
|
| Final sales of domestic product |
|
2.9 % |
3.1 % |
2.4 % |
2.9 % |
2.2 % |
2.3 % |
| Gross domestic purchases |
|
3.3 % |
2.7 % |
2.7 % |
2.6 % |
2.5 % |
2.3 % |
| Final sales to domestic
purchasers |
|
2.9 % |
3.1 % |
2.4 % |
2.9 % |
2.2 % |
2.3 % |
| Gross national product
(GNP) |
|
3 % |
3.1 % |
2.7 % |
2.5 % |
2.4 % |
2.2 % |
| Disposable personal income |
|
2.7 % |
2.9 % |
2.8 % |
1.8 % |
1 % |
1.2 % |
| |
|
|
|
|
|
|
| Current-dollar measures: |
|
|
|
|
|
|
| GDP |
|
- % |
- % |
- % |
- % |
- % |
- % |
| Final sales of domestic product |
|
- % |
- % |
- % |
- % |
- % |
- % |
| Gross domestic purchases |
|
- % |
- % |
- % |
- % |
- % |
- % |
| Final sales to domestic purchasers |
|
- % |
- % |
- % |
- % |
- % |
- % |
| GNP |
|
- % |
- % |
- % |
- % |
- % |
- % |
| Disposable personal income |
|
- % |
- % |
- % |
- % |
- % |
- % |
| |
|
|
|
|
|
|
U.S. Real Gross Domestic Product and Related Measures
GDP, U.S. Economy in Billions of U.S. dollars
Quarters seasonally adjusted
(At annual rates, in Billions of Dollars) |
III Q. 2018
adv. |
II Q. 2018
final |
I Q. 2018
rev. |
IV Q. 2017
adv. |
III Q. 2017
final |
II Q. 2017
rev. |
| Gross domestic product
(GDP) |
|
18,665.0 |
18,511.6 |
20,041.0 |
19,754.1 |
19,500.6 |
19,250.0 |
|
Personal consumption expenditures |
|
12,953.3 |
12,842.0 |
13,679.6 |
13,654.3 |
13,429.1 |
13,307.0 |
| Goods |
|
4,585.5 |
4,537.6 |
4,267.7 |
4,401.8 |
4,301.4 |
4,247.2 |
| Durable
goods |
|
1,677.4 |
1,662.3 |
1,434.5 |
1,517.8 |
1,477.6 |
1,456.6 |
| Motor vehicles & parts |
|
516.2 |
518.6 |
498.5 |
519.8 |
497.8 |
486.3 |
| Furniture & household equipment |
|
387.0 |
381.1 |
324.1 |
346.8 |
339.1 |
335.9 |
| Other |
|
261.7 |
259.4 |
223.4 |
237.9 |
234.5 |
228.6 |
| |
|
|
|
|
|
|
|
| Nondurable goods |
|
2,919.2 |
2,886.7 |
2,833.2 |
2,884.0 |
2,823.8 |
2,790.6 |
| Food off-premises consumption |
|
973.3 |
965.2 |
988.3 |
955.3 |
939.1 |
930.8 |
| Clothing
& shoes |
|
403.8 |
393.4 |
385.5 |
405.5 |
399.8 |
399.5 |
| Gasoline,
fuel, oil & other energy goods |
|
442.8 |
446.6 |
340.6 |
327.5 |
296.0 |
286.5 |
| Other |
|
1,085.4 |
1,069.5 |
1,118.8 |
1,195.7 |
1,188.8 |
1,173.7 |
| |
|
|
|
|
|
|
|
| Services |
|
8,394.9 |
8,329.8 |
9,411.9 |
9,252.5 |
9,127.7 |
9,059.8 |
| Housing |
|
8,022.7 |
7,963.5 |
8,992.5 |
8,870.0 |
8,755.2 |
8,683.1 |
| Food services |
|
829.3 |
815.2 |
914.2 |
888.8 |
879.5 |
873.8 |
| Electricity & gas |
|
2,163.7 |
2,158.1 |
2,515.6 |
2,476.5 |
2,443.2 |
2,425.8 |
| Financial services |
|
855.3 |
852.2 |
1,102.5 |
1,085.2 |
1,060.2 |
1,047.1 |
| Transportation |
|
422.6 |
422.4 |
450.1 |
412.2 |
404.4 |
406.1 |
| Medical
care |
|
2,214.3 |
2,188.9 |
2,331.0 |
2,299.3 |
2,271.7 |
2,241.9 |
| Recreation |
|
491.8 |
493.4 |
549.0 |
522.6 |
520.8 |
515.7 |
| Other |
|
1,059.9 |
1,046.0 |
1,130.1 |
1,185.4 |
1,175.3 |
1,172.7 |
| |
|
|
|
|
|
|
|
|
Gross private domestic investment |
|
3,436.2 |
3,316.7 |
3,543.8 |
3,295.3 |
3,249.2 |
3,178.1 |
| Fixed investment |
|
3,331.8 |
3,322.3 |
3,507.4 |
3,279.2 |
3,207.3 |
3,173.3 |
| Nonresidential |
|
2,727.0 |
2,710.1 |
2,720.3 |
2,513.0 |
2,468.4 |
2,433.6 |
| Structures |
|
546.9 |
551.7 |
614.9 |
570.3 |
559.0 |
563.0 |
| Equipment & software |
|
1,275.6 |
1,264.9 |
1,212.6 |
1,142.5 |
1,111.0 |
1,082.3 |
| Information processing equipment & software |
|
511.8 |
502.9 |
401.9 |
334.7 |
327.7 |
319.3 |
| Computers & peripheral equipment |
|
79.8 |
79.1 |
82.7 |
79.2 |
84.9 |
80.1 |
| Software |
|
423.3 |
414.2 |
370.3 |
373.2 |
375.9 |
370.6 |
| Other |
|
411.8 |
408.6 |
439.7 |
255.5 |
242.8 |
239.2 |
| Industrial equipment |
|
242.0 |
236.6 |
243.9 |
250.6 |
246.7 |
241.7 |
| Transportation equipment |
|
278.8 |
281.3 |
300.7 |
302.4 |
292.8 |
283.5 |
| Other equipment |
|
257.4 |
257.0 |
266.1 |
254.8 |
243.8 |
237.8 |
| Residential |
|
607.7 |
613.2 |
787.2 |
766.2 |
738.9 |
739.7 |
| |
|
|
|
|
|
|
|
| Change
in private inventories |
|
89.8 |
-36.8 |
36.3 |
16.0 |
41.9 |
4.9 |
| Farm |
|
-8.7 |
-6.4 |
-1.9 |
3.5 |
3.4 |
0.3 |
| Nonfarm |
|
95.4 |
-31.0 |
38.2 |
12.5 |
38.5 |
4.6 |
| |
|
|
|
|
|
|
|
| Net
exports of goods & services |
|
-949.7 |
-841.0 |
-639.2 |
-602.0 |
-534.1 |
-567.2 |
| Exports |
|
2,542.2 |
2,574.2 |
2,477.4 |
2,419.6 |
2,345.9 |
2,314.9 |
| Goods |
|
1,769.8 |
1,809.2 |
1,628.1 |
1,607.4 |
1,544.1 |
1,520.9 |
| Services |
|
774.5 |
769.8 |
849.3 |
812.2 |
801.8 |
794.0 |
| |
|
|
|
|
|
|
|
| Imports |
|
3,491.9 |
3,415.2 |
3,116.6 |
3,021.6 |
2,880.1 |
2,882.1 |
| Goods |
|
2,942.2 |
2,870.0 |
2,537.1 |
2,478.6 |
2,345.2 |
2,350.3 |
| Services |
|
551.9 |
546.1 |
579.4 |
543.0 |
534.8 |
531.9 |
| |
|
|
|
|
|
|
|
| Govt. consumption exp. & investment |
|
3,192.0 |
3,171.8 |
3,456.8 |
3,406.6 |
3,356.5 |
3,332.1 |
| Federal |
|
1,234.7 |
1,224.0 |
1,294.8 |
1,278.9 |
1,263.5 |
1,255.8 |
|
National defense |
|
742.2 |
733.3 |
759.0 |
759.4 |
746.7 |
741.4 |
|
Consumption expenditures |
|
591.8 |
583.7 |
606.6 |
598.5 |
590.1 |
584.7 |
|
Gross investment |
|
150.4 |
149.8 |
152.4 |
160.9 |
156.5 |
156.6 |
|
Nondefense |
|
492.0 |
540.5 |
527.8 |
519.5 |
516.9 |
514.5 |
|
Consumption expenditures |
|
367.5 |
366.4 |
406.0 |
392.9 |
391.0 |
386.1 |
|
Gross investment |
|
124.5 |
123.6 |
129.8 |
126.5 |
125.9 |
128.4 |
| State and local |
|
1,956.3 |
1,946.6 |
2,162.0 |
2,127.7 |
2,092.9 |
2,076.2 |
| Consumption
expenditures |
|
1,603.0 |
1,597.9 |
1,784.4 |
1,780.8 |
1,759.8 |
1,743.7 |
| Gross
investment |
|
353.3 |
348.7 |
377.6 |
346.9 |
333.1 |
332.5 |
| |
|
|
|
|
|
|
|
| Addenda: |
|
|
|
|
|
|
|
| Final sales of domestic product |
|
18,562.1 |
18,515.9 |
20,004.7 |
19,738.1 |
19,458.7 |
19,245.2 |
| Gross domestic purchases |
|
19,574.7 |
19,324.8 |
20,680.2 |
20,356.1 |
20,034.8 |
19,817.2 |
| Final sales to domestic purchasers |
|
19,471.6 |
19,330.8 |
17,187.0 |
19,738.1 |
19,458.7 |
19,245.2 |
| Gross national product |
|
18,908.0 |
18,766.4 |
20,309.8 |
19,976.4 |
19,728.9 |
19,452.4 |
| Net domestic product |
|
15,600.7 |
15,472.0 |
16,837.6 |
16,674.1 |
16,448.5 |
16,229.3 |
Annual U.S. Real Gross Domestic Product and Related Measures
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Quarters seasonally adjusted
(At annual rates Q / Q, in %) |
2017
|
2016
|
2015
|
2014
|
2013
|
2012
|
| Gross domestic product (GDP) |
|
2.2 % |
1.5 % |
2.6 % |
2.4 % |
2.2 % |
2.8 % |
|
Personal consumption expenditures |
|
2.5 % |
2.7 % |
3.2 % |
2.5 % |
2.4 % |
2.2 % |
| Goods |
|
2.1 % |
2.8 % |
2.6 % |
1.8 % |
1.9 % |
1.4 % |
| Durable goods |
|
3.7 % |
3.7 % |
4 % |
6.9 % |
6.7 % |
7.7 % |
| Nondurable goods |
|
2 % |
2.3 % |
2.8 % |
2.1 % |
1.9 % |
1.6 % |
| Services
|
|
4.8 % |
-1.6 % |
5 % |
3.4 % |
3.4 % |
3.3 % |
| |
|
|
|
|
|
|
|
Gross private domestic investment |
|
6.8 % |
5.5 % |
6.9 % |
5.8 % |
4.9 % |
9.5 % |
| Fixed investment |
|
5.3 % |
-0.6 % |
2.1 % |
5.3 % |
4.7 % |
8.3 % |
| Nonresidential |
|
4.6 % |
-4.1 % |
-4.4 % |
6.3 % |
3 % |
7.3 % |
| Structures |
|
6.1 % |
-3.4 % |
3.5 % |
8.2 % |
-0.5 % |
12.7 % |
| Equipment &
software |
|
4.6 % |
6.3 % |
4.8 % |
6.4 % |
4.6 % |
7.6 % |
| Residential |
|
3.3 % |
5.5 % |
11.7 % |
4.8 % |
3.4 % |
3.4 % |
| Change in private
inventories |
|
- % |
- % |
- % |
- % |
- % |
- % |
| |
|
|
|
|
|
|
|
Net exports of goods and services |
|
|
|
|
|
|
| Exports
|
|
3 % |
-0.3 % |
0.1 % |
3.2 % |
3 % |
3.5 % |
| Goods |
|
3.3 % |
0.3 % |
-0.6 % |
4 % |
2.8 % |
3.8 % |
| Services |
|
2.5 % |
-1.5 % |
1.6 % |
1.4 % |
3.6 % |
3 % |
| Imports
|
|
4.6 % |
1.3 % |
4.6 % |
4 % |
1.1 % |
2.2 % |
| Goods |
|
4.6 % |
0.9 % |
4.9 % |
4.1 % |
0.9 % |
2.1 % |
| Services |
|
4.4 % |
3.1 % |
2.9 % |
3.6 % |
2.2 % |
2.7 % |
| |
|
|
|
|
|
|
| Govt. consumption exp.
& gross investment |
|
-0.1 % |
0.8 % |
1.8 % |
-0.2 % |
-2 % |
-1.4 % |
| Federal |
|
0.7 % |
- % |
- % |
-1.9 % |
-5.7 % |
-3.2 % |
| National defense |
|
0.7 % |
-0.7 % |
-2.1 % |
-2.1 % |
-6.6 % |
1.8 % |
| Nondefense |
|
0.8 % |
1.2 % |
3.3 % |
-1.5 % |
-4.1 % |
-0.7 % |
| State & local |
|
-0.5 % |
1.2 % |
2.9 % |
1 % |
0.5 % |
-0.7 % |
| |
|
|
|
|
|
|
| Addenda: |
|
|
|
|
|
|
| Final sales of domestic product |
|
2.2 % |
1.9 % |
2.4 % |
2.3 % |
2.2 % |
2.6 % |
| Gross domestic purchases |
|
2.5 % |
1.7 % |
3.2 % |
2.5 % |
1.9 % |
2.6 % |
| Final sales to domestic
purchasers |
|
2.5 % |
2.1 % |
3.1 % |
2.5 % |
1.9 % |
2.4 % |
| Gross national product
(GNP) |
|
2.3 % |
1.4 % |
2.3 % |
2.3 % |
2.2 % |
2.5 % |
| Disposable personal income |
|
2.6 % |
1.4 % |
3.5 % |
2.5 % |
2.2 % |
2.7 % |
| |
|
|
|
|
|
|
| Current-dollar measures: |
|
|
|
|
|
|
| GDP |
|
4.2 % |
2.8 % |
3.7 % |
3.9 % |
- % |
4.6 % |
| Final sales of domestic product |
|
4.2 % |
2.1 % |
3.6 % |
3.9 % |
3.7 % |
4.4 % |
| Gross domestic purchases |
|
4.2 % |
2.5 % |
3.7 % |
3.9 % |
3.7 % |
4.3 % |
| Final sales to domestic purchasers |
|
4.8 % |
3.5 % |
3.8 % |
3.9 % |
- % |
4.1 % |
| GNP |
|
4.3 % |
2.7 % |
3.4 % |
3.7 % |
3.2 % |
4.3 % |
| Disposable personal income |
|
4.4 % |
2.6 % |
3.8 % |
3.8 % |
3.7 % |
4.4 % |
| |
|
|
|
|
|
|
Annual U.S. GDP
(In Billions of Dollars) |
2017
|
2016
|
2015
|
2014
|
2013
|
2012
|
| Gross domestic product
(GDP) |
|
19,390.6 |
18,624.5 |
18,036.6 |
17,418.9 |
16,799.7 |
16,244.6 |
|
Personal consumption expenditures |
|
13,395.5 |
12,820.7 |
12,283.7 |
11,930.3 |
11,501.5 |
11,149.6 |
| Goods |
|
4,295.3 |
4,121.4 |
4,012.1 |
3,968.7 |
3,885.9 |
3,769.7 |
| Durable
goods |
|
1,473.8 |
1,411.0 |
1,355.2 |
1,302.5 |
1,263.0 |
1,202.7 |
| Motor vehicles & parts |
|
498.2 |
480.8 |
464.8 |
447.8 |
424.5 |
401.7 |
| Furniture & household equipment |
|
338.7 |
325.2 |
305.1 |
287.5 |
285.8 |
275.1 |
| Other |
|
405.8 |
385.5 |
376.6 |
205.5 |
205.0 |
191.3 |
| |
|
|
|
|
|
|
|
| Nondurable goods |
|
2,821.5 |
2,710.4 |
2,656.9 |
2,666.2 |
2,622.9 |
2,567.0 |
| Food off-premises consumption |
|
937.7 |
915.1 |
900.7 |
888.6 |
884.0 |
863.3 |
| Clothing
& shoes |
|
400.2 |
393.7 |
379.5 |
365.4 |
362.7 |
354.6 |
| Gasoline,
fuel, oil & other energy goods |
|
304.1 |
273.7 |
303.7 |
398.3 |
408.7 |
417.0 |
| Other |
|
1,172.8 |
1,126.1 |
1,076.9 |
1,013.9 |
967.5 |
932.1 |
| |
|
|
|
|
|
|
|
| Services |
|
9,100.2 |
8,699.3 |
8,271.6 |
7,961.7 |
7,615.7 |
7,379.9 |
| Housing |
|
8,723.3 |
8,340.4 |
7,943.7 |
7,633.7 |
7,326.2 |
7,089.4 |
| Food services |
|
878.2 |
849.2 |
808.8 |
755.5 |
736.5 |
701.7 |
| Electricity & gas |
|
3,197.2 |
3,022.1 |
2,963.2 |
2,166.0 |
2,082.5 |
2,013.9 |
| Financial services |
|
1,054.6 |
984.7 |
921.1 |
885.1 |
849.2 |
821.0 |
| Transportation |
|
406.6 |
392.5 |
368.4 |
344.9 |
324.3 |
318.1 |
| Medical
care |
|
2,259.9 |
2,163.7 |
2,069.0 |
1,997.2 |
1,918.6 |
1,847.6 |
| Recreation |
|
518.0 |
492.6 |
466.3 |
444.6 |
427.2 |
416.6 |
| Other |
|
1,172.8 |
1,126.1 |
1,076.9 |
1,040.4 |
987.9 |
970.4 |
| |
|
|
|
|
|
|
|
|
Gross private domestic investment |
|
3,212.8 |
3,057.2 |
3,056.6 |
2,851.6 |
2,670.0 |
2,475.2 |
| Fixed investment |
|
3,197.2 |
3,022.1 |
2,963.2 |
2,769.6 |
2,564.0 |
2,409.1 |
| Nonresidential |
|
2,449.6 |
2,316.3 |
2,311.3 |
2,210.5 |
2,047.1 |
1,970.0 |
| Structures |
|
560.2 |
516.2 |
507.3 |
506.9 |
456.4 |
437.3 |
| Equipment & software |
|
1,098.4 |
1,043.9 |
1,086.1 |
1,017.3 |
939.7 |
907.6 |
| Information processing equipment & software |
|
323.1 |
303.9 |
314.3 |
294.1 |
290.1 |
284.5 |
| Computers & peripheral equipment |
|
79.2 |
73.1 |
78.5 |
75.7 |
77.9 |
79.2 |
| Software |
|
243.9 |
230.8 |
235.8 |
304.9 |
294.4 |
281.6 |
| Other |
|
243.9 |
230.8 |
235.8 |
218.4 |
212.2 |
205.4 |
| Industrial equipment |
|
243.3 |
225.0 |
220.9 |
238.6 |
202.8 |
195.3 |
| Transportation equipment |
|
290.3 |
286.7 |
308.1 |
257.6 |
218.9 |
214.4 |
| Other equipment |
|
241.6 |
228.3 |
242.9 |
227.0 |
227.9 |
213.4 |
| Residential |
|
747.6 |
705.9 |
651.9 |
559.1 |
516.9 |
439.2 |
| |
|
|
|
|
|
|
|
| Change
in private inventories |
|
15.7 |
35.1 |
93.4 |
82.0 |
106.1 |
66.1 |
| Farm |
|
2.4 |
-0.6 |
-2.0 |
7.9 |
40.4 |
-11.7 |
| Nonfarm |
|
13.2 |
35.7 |
95.4 |
74.1 |
65.7 |
77.8 |
| |
|
|
|
|
|
|
|
| Net
exports of goods & services |
|
-571.6 |
-521.2 |
-522.0 |
-538.2 |
-497.3 |
-547.2 |
| Exports |
|
2,344.0 |
2,214.6 |
2,264.3 |
2,337.0 |
2,259.9 |
2,195.9 |
| Goods |
|
1,546.8 |
1,446.0 |
1,498.4 |
1,614.7 |
1,567.0 |
1,536.0 |
| Services |
|
797.1 |
768.5 |
765.9 |
722.2 |
692.9 |
659.9 |
| |
|
|
|
|
|
|
|
| Imports |
|
2,915.6 |
2,735.8 |
2,786.3 |
2,875.2 |
2,757.2 |
2,743.1 |
| Goods |
|
2,381.8 |
2,224.2 |
2,291.1 |
2,385.5 |
2,296.0 |
2,295.4 |
| Services |
|
533.8 |
511.6 |
495.2 |
489.7 |
461.2 |
447.7 |
| |
|
|
|
|
|
|
|
| Govt. consumption exp. & investment |
|
3,353.8 |
3,267.8 |
3,218.3 |
3,175.2 |
3,125.5 |
3,167.0 |
| Federal |
|
1,260.7 |
1,231.5 |
1,225.0 |
1,219.2 |
1,245.9 |
1,295.7 |
|
National defense |
|
744.4 |
728.9 |
732.0 |
761.5 |
770.7 |
817.1 |
|
Consumption expenditures |
|
588.7 |
585.2 |
590.6 |
618.9 |
612.0 |
652.0 |
|
Gross investment |
|
155.7 |
143.7 |
141.3 |
142.6 |
158.7 |
165.1 |
|
Nondefense |
|
516.2 |
502.6 |
493.0 |
457.6 |
475.1 |
478.6 |
|
Consumption expenditures |
|
389.1 |
379.4 |
373.1 |
346.3 |
359.0 |
359.7 |
|
Gross investment |
|
127.2 |
123.3 |
119.9 |
111.3 |
116.1 |
118.9 |
| State and local |
|
2,093.2 |
2,036.3 |
1,993.3 |
1,956.1 |
1,879.6 |
1,871.3 |
| Consumption
expenditures |
|
1,754.4 |
1,693.6 |
1,641.2 |
1,620.4 |
1,548.1 |
1,536.4 |
| Gross
investment |
|
338.8 |
342.7 |
352.2 |
335.7 |
331.5 |
334.9 |
| |
|
|
|
|
|
|
|
| Addenda: |
|
|
|
|
|
|
|
| Final sales of domestic product |
|
19,374.9 |
18,589.4 |
17,943.3 |
17,336.9 |
16,693.7 |
16,178.5 |
| Gross domestic purchases |
|
19,962.2 |
19,145.7 |
18,558.6 |
17,957.2 |
17,297.0 |
16,791.8 |
| Final sales to domestic purchasers |
|
19,946.5 |
19,110.6 |
18,465.2 |
17,875.1 |
17,191.0 |
16,725.7 |
| Gross national product |
|
16,592.7 |
15,842.8 |
15,246.9 |
17,630.6 |
17,057.5 |
16,497.4 |
| Net domestic product |
|
19,390.6 |
18,624.5 |
18,036.6 |
14,682.7 |
14,153.2 |
13,701.7 |
Next U.S. GDP report is expected on February 25, 2121.
|
